Black Friday Witnesses $7.4 Billion in Online Sales

With the holiday season approaching, more shoppers swiftly approached the internet to check off their holiday shopping list, from buying apparels to Xbox, as per the recent Adobe Analytics Big Data report. Online sales hit an all-time high at $4.2 billion due to Thanksgiving and Black Friday.

Consumers spent up to $7.4 billion online to buy electronic goods such as computers, tablets, and smartphones as per the new Adobe Analytics report. This Black Friday (the day after Thanksgiving) also witnessed more than $2 billion sales stemming from smartphones first time in history. The reason behind these record-breaking figures is the online retailers such as Walmart and Amazon in the US pushing attractive deals days in advance, before the holiday weekend.

Online shopping has emerged as a popular and convenient option for shoppers this holiday season with the ‘choose-add to cart-buy’ option, which is one of the reasons for the steep online traffic and conversions.

Here are some of the insights from Adobe Analytics on the Holiday Shopping trend:

• Consumers spent $81.5 billion more in 2019 compared to 2018.
• 59% of the purchases were done using a desktop, 36% of them using a smartphone, and 5% using a tablet.
• Some of the big purchases were Frozen themed toys, FIFA 20, Madden 20, Nintendo Switch, Apple laptops, airpods, and Samsung TVs.

One of the most critical analyses by Adobe was that shoppers currently prefer purchasing gifts online rather than standing in a queue. Even though people still visit stores, approximately 41% of their shopping is done online. There was also an overall boost of 62% on sales this year for retail giants online compared to the small retailers at 27%. This is because online retail giants have a more extensive array and selection of goods to offer and can afford to give deep discounts from time to time to lure more customers.

The more prominent online platforms also have flexible delivery options to cater to their customers. Adobe also noted that there was a subsequent increase in their ‘pick up from the store’ option, which increased by 43% this year during the holiday season.

This report is not the end of all. With Cyber Monday, there is a prediction to make $9.4 billion on sales.